Lithium Americas (NYSE:LAC) Trading 0.7% Higher - Here's What Happened

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares were up 0.7% on Monday . The stock traded as high as $4.30 and last traded at $4.30. Approximately 3,683,136 shares were traded during trading, a decline of 29% from the average daily volume of 5,182,975 shares. The stock had previously closed at $4.27.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research note on Friday, October 18th. Piper Sandler started coverage on Lithium Americas in a report on Monday, July 29th. They set a "neutral" rating and a $3.90 price target for the company. BMO Capital Markets raised Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a research note on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and an average price target of $5.50.

Lithium Americas Trading Down 1.6 %

The business's fifty day moving average is $2.81 and its two-hundred day moving average is $3.10.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities analysts forecast that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its position in Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company's stock valued at $35,000 after purchasing an additional 3,693 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company's stock valued at $112,000 after buying an additional 4,504 shares during the period. Cowen AND Company LLC raised its stake in Lithium Americas by 50.0% in the second quarter. Cowen AND Company LLC now owns 15,000 shares of the company's stock worth $40,000 after buying an additional 5,000 shares in the last quarter. Quent Capital LLC lifted its holdings in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $27,000 after buying an additional 5,000 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in Lithium Americas by 37.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company's stock valued at $59,000 after acquiring an additional 5,930 shares in the last quarter.

About Lithium Americas

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.